Location: Nicholas County, WV | Metro: Charleston, WV HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $680 |
| 1 Bedroom | $750 |
| 2 Bedrooms | $940 |
| 3 Bedrooms | $1,200 |
| 4 Bedrooms | $1,250 |
| 5 Bedrooms | $1,450 |
| 6 Bedrooms | $1,624 |
| 7 Bedrooms | $1,754 |
| 8 Bedrooms | $1,842 |
U.S. Census Bureau data (2024)
The economics of Section 8 in ZIP code 25111 are straightforward. The SAFMR (Standard Amount Fair Market Rent) for a two-bedroom apartment is set at $850 per month for the fiscal year 2024. This rate is specifically tailored for this ZIP code, ensuring it reflects the local housing market conditions accurately.
Landlords often wonder how much they will actually receive when a tenant uses a Section 8 voucher. Here’s a breakdown: the voucher covers the difference between the tenant's portion of the rent and the total rent amount. The tenant is responsible for paying 30% of their adjusted income towards rent, plus any utility allowances. For simplicity, let's assume an average utility allowance of $150 per month.
To illustrate, if a tenant's adjusted income is $1,700 per month, their portion of the rent would be 30%, which amounts to $510. Adding the utility allowance of $150, the total contribution from the tenant would be $660. Since the SAFMR is $850, the voucher would cover the remaining $190. Therefore, the landlord would receive a total of $850 per month, consisting of $660 from the tenant and $190 from the voucher program.
Note that the SAFMR is the maximum amount the government will pay for a voucher in this ZIP code. If the market rent for a similar unit exceeds $850, the landlord must either lower the rent to match the voucher amount or accept the reimbursement gap. Conversely, if the market rent is below $850, the landlord may benefit from a surplus, but only up to the voucher limit.
In ZIP 25111, there is currently no specific local market rent data available. However, given the SAFMR of $850, landlords should ensure their rents are competitive yet reasonable to attract tenants without leaving significant money on the table.
Typically, in this scenario, landlords might face a slight reimbursement gap if market rents exceed the SAFMR. To close this gap, landlords can either increase the tenant's portion of the rent beyond 30% of their income or adjust their rental rates to align closely with the SAFMR. In summary, the economic dynamics of Section 8 in ZIP 25111 are such that landlords receive a predictable, fixed amount per month, with potential gaps or surpluses depending on the actual market rent and voucher limits.
Data Sources: FMR data from HUD (2027). Demographics from U.S. Census (2024).
About FMR: Fair Market Rent (FMR) is used to determine payment standards for the Section 8 Housing Choice Voucher program, initial renewal rents for some expiring project-based Section 8 contracts, and rent ceilings for HOME Investment Partnerships.